Best Places In The World To Retire

While  there are many lovely places to retire in the world, I would personally recommend Panama.

Why Panama, you ask? Let me list some of the reasons:

Panama has been ranked as the number 1 retirement destination choice.

According U.S. News and World Report’s ‘The 18 Best Places to Retire Overseas 2012′:

“Panama is the world’s top retirement haven. Panama City no longer qualifies as cheap, but other spots in...

While  there are many lovely places to retire in the world, I would personally recommend Panama.

Why Panama, you ask? Let me list some of the reasons:

Panama has been ranked as the number 1 retirement destination choice.

According U.S. News and World Report’s ‘The 18 Best Places to Retire Overseas 2012′:

“Panama is the world’s top retirement haven. Panama City no longer qualifies as cheap, but other spots in this country certainly do. Panama continues to offer the world’s gold standard program of special benefits for retirees. The currency is the U.S. dollar, so there is no exchange rate risk if your retirement savings and income is in dollars. The climate in Panama City and on the coasts is tropical, hot, and humid. However, the climate in the highlands can be temperate and tempting. Panama is the hub of the Americas, meaning it’s easily accessible from anywhere in North and South America and Europe. “

According to the International Living (2012):

“ Panama tops the category with an organized program of discounts and perks called the pensionado. The program is open to foreigners and there’s no minimum age requirement.With it you have serious discounts, money off that makes a big difference to your costs. Like 20% off any professional services used in Panama; 50% off for movies, theaters and sporting events; a 30% discount on public transport, 25% off the price of food eaten in a sit down restaurant; 15% off in fast food joints, 15% off in hospitals and private clinics…25% domestic flights on COPA…the list goes on…”

Panama is free of the truly devastating natural disasters that plague other nations.

According to the Panama Planner (2005):

“Panama is the only country in Central America in a climate zone that is absolutely hurricane-free. Truly blessed by nature, Panama also has none of the destructive earthquakes that plague its Central American neighbors.”

Panama has the lowest crime rate in Central America and one of the overall lowest crime rates against tourists in the World.

According to Panama Info (2012):

“Panama is one of the safest countries in Latin America for tourists. Tourism crime especially is low. You won’t have to be constantly on your guard for pick-pockets or purse snatchers like in other countries in the region. Foreign residents will tell you how safe they feel in Panama compared to other countries in the region and it is only getting better. Under the new Martinelli government, effective measures are being taken that have already reduced crimes in general by 28%.”

Panama has world class beaches, mountains, waterfalls and natural splendor.

According to Panama Invest (2009):

“Think of fine powdery sand on your feet. Think of rugged landscapes and seaside cliffs. Think of the coral reefs and the variety of marine life and fish. Panama has it, in great abundance. After all, Panama is sandwiched between two oceans. For those whose passion is surfing, you can take your pick or explore all of Playa Punta Puss Head, Paunch Beach, Bluff Beach, Larga Beach and Cayo Zapatillas. Panama is great for snorkeling, scuba diving, deep sea fishing, and diving activities. One of the most beautiful snorkeling destinations is San Blas Islands. Home to the Kuna Indians, San Blas is one of the last remaining unspoiled beaches, and it has miles and miles of coral reef that you can explore to your heart’s content. Go to the Pearl Islands and explore around 60 beaches of all types and colors while island hopping.”

“Bird watching and trail hiking are offered in Panama. It has miles and miles of live coral reefs and it has 12 national parks as well as 19 protected areas. You want the sea, Panama has it. You want jungles and forests, Panama sill has it. For nature birdwatchers, you can indulge your passion in Bocas del Toro’s Island Birds where around 50 species of migratory birds go. In the Teribe Territory, about a 100 species of birds also thrive. Here you will also find the famous thumbnail size red frogs. You can also visit native Indian tribes in their natural habitat trough travel agencies that offer this. Ecotourism is becoming more and more popular in Panama, and the possibilities are endless. Here we have rainforests, jungles, water falls, streams, rivers, mountains, deserted beaches, anything nature can provide, all in this small country called Panama.”

Panama has a stable and rapidly growing economy that make it a boon for investors.

According to the US Commercial Service’s Investment Climate Report (2012):

“Panama’s investment climate is generally positive. The country’s sterling economic success is based on a strong macro-economic policy and excellent management of the Panama Canal and associated transportation services. Panama has enjoyed some of the highest economic growth in Latin America in the past decade, and most observers predict continued strong growth in the years ahead due to stable and consistent macro-economic policies. Growth tallied 10.5% in 2011 and 7.5% in 2010, after a deceleration to 3.2% in 2009. The Government of Panama (GOP) has promoted economic growth over the last decade through open market policies and by encouraging trade.”

Portugal is divided into three regions—north, center, and south. The southern part of Portugal is more rural and is where we tend to get a lot of European expats from Germany, England, and France. The center of Portugal, where Lisbon is included, we tend to get other nationalities, such as Brazilians, we’re starting to get some Americans, Canadians, and even from Asia; Japanese. And then in the north of Portugal, we get a lot of expats from the the wine producing countries,...

Portugal is divided into three regions—north, center, and south. The southern part of Portugal is more rural and is where we tend to get a lot of European expats from Germany, England, and France. The center of Portugal, where Lisbon is included, we tend to get other nationalities, such as Brazilians, we’re starting to get some Americans, Canadians, and even from Asia; Japanese. And then in the north of Portugal, we get a lot of expats from the the wine producing countries, people from New Zealand, Chile, and South Africa because this region is very famous because of the Port Wine.  There are a lot of wine vineyards up north in Portugal and these people come to retire because of the weather, because of the lifestye, and many other factors. They tend to come straight to the north of Portugal.  There are also a lot of old beautiful palaces and villas for which the purchase price in Portugal is very affordable for people coming from these countries. So it tends to be divided. Europeans go more to the south of Portugal, the wine-producing countries go to the north of Portugal, and in Lisbon it’s a mixture of many cultures.
 
In order to make any generalizations about the expats in Portugal depends a lot on the age factor.  Several weeks ago the Portuguese Tourism Board released a brilliant video just with foreigners, expats talking about our country. In this video are shown people from all ages, from all sectors talking about our country. From a scientist to doctors, to architects—every single field is represented and there’s someone telling their story about Portugal.
 
The view of these people of Portugal is that it’s great living here.  When, as a country, we struggled economically a few years ago, we immediately understood that we’re dependent on every single penny that entered our country. So for a long time, 500 years ago when we started discovering the world, we’re all in contact with many cultures and we had to have a lot of public relations in our blood to achieve what we did. We negotiated with India, Asia, Brazil, and that made us a very easygoing culture. We’ve adapted through all these years and when we had the economic struggle a few years ago, we knew immediately that we had to treat foreigners very well coming here so they would remain and they would spend their money here and they would help us economically. So therefore, we got used to that way to exchange information with foreigners and the process had been like this for the last 20 or 30 years.
 
In Portugal we like foreigners because the foreigners have done a lot of good for us that helped develop our country. So we are very grateful for the foreigners; very, very grateful. And we all have open smiles, we open our houses to foreigners, we invite them with food because we’re so eager for them to get to know our culture that we receive them very well. Our opinion about foreigners is wonderful; it’s great, absolutely great. 
 
Recently, there have been a few issues because the European Union now is wide open, and because of all these problems with the Middle East and we have become a bit suspicious of some of the people from Middle Eastern countries, but with the rest of the world we are completely open-hearted.  

 

(Visitors at Blue Hostel and Suites, Cascais,  Portugal, pictured.)

Buying a car in Nicaragua is generally more expensive than buying the same car in the US. For example, a common car, maybe 2015 Toyota Corolla would cost US $16,000 – $17,000 plus tax in Nicaragua.   The same car in the US would maybe costs around $15,000. What kills you when you buy in Nicaragua is the tax. In Nicaragua the tax is twice as much as what you would pay at least in the state where I’m from, in Indiana.  Here in Nicaragua the sales tax is 15%. ...

Buying a car in Nicaragua is generally more expensive than buying the same car in the US. For example, a common car, maybe 2015 Toyota Corolla would cost US $16,000 – $17,000 plus tax in Nicaragua.   The same car in the US would maybe costs around $15,000. What kills you when you buy in Nicaragua is the tax. In Nicaragua the tax is twice as much as what you would pay at least in the state where I’m from, in Indiana.  Here in Nicaragua the sales tax is 15%.  That’s a tax on everything from what you would buy at your grocery store to buying a car, to when you buy a home; it’s a 15% flat tax.
 
If you buy a used car we don’t necessarily have to pay the 15% when you buy it, but you still have to pay tax on the transfer of the title of the car to your name, which will be on the value of the car.
 
I don’t recommend bringing a car down to Nicaragua from the States. One of the reasons is that they’ll tax you on the car when you bring it here. So let’s say you bought the car in the US.  It was a new car and you paid tax on it in the US, you paid the shipping to bring it down here, then you have to pay customs to be able to drive it here, and then you also have to pay the taxes on getting the car under your name. If you’re not, at least, a permanent resident of Nicaragua already, if you don’t already have your cedula, well, then that proves to be something costly, time-consuming, and most likely in the end, unless the car has some sentimental value to you, it’s not really worth it.
 
However, If you are a Nicaraguan citizen and you’ve lived in the States for at least 10 years, there’s a tax incentive to encourage you to come back to Nicaragua to live, you would be able to bring certain things into Nicaragua tax free.
 
This also applies if you are an American citizen or a foreign citizen, and you have proof of income.  This income could be through a pension, retirement or Social Security of at least $650 a month, or you might have an investment or a business back at home that someone else runs but you still get dividends or you still get a paycheck every month of at least $750. If you can prove this, then there’s a tax incentive very similar to the one I just mentioned for Nicaraguan citizen. So, if you qualify, if you were to bring a car down or bring something from your home tax-free.  This could be, for example, a sofa, a huge 80” TV or certain household items or appliances that you might not be able to find easily down here.  Getting qualified for this is a process, and it’s not quick and easy to do, but if you’re planning on moving down here, living here, retiring here, then it could be something that you could think about. Also, if you do that, there’s the option of buying a car here in Nicaragua tax free with the maximum value of $25,500. 
 
The process to qualify for these incentives usually takes a good 3 to 4 for months.

 

(Toyota off-road vehicle attempting to ford a stream in Nicaragua, pictured.)

After moving back to Panama about 6 years ago and selecting San Francisco as my place of residence, I have a good idea about the best and worst things about living and retiring in San Francisco, a neighborhood of Panama City, Panama. It's all a matter of perspective. If you are looking for a reasonably-priced house, if your idea of retiring is centered around night life and cultural activities, then there are more suitable areas. Houses are expensive in San Francisco, where they are...

After moving back to Panama about 6 years ago and selecting San Francisco as my place of residence, I have a good idea about the best and worst things about living and retiring in San Francisco, a neighborhood of Panama City, Panama. It's all a matter of perspective. If you are looking for a reasonably-priced house, if your idea of retiring is centered around night life and cultural activities, then there are more suitable areas. Houses are expensive in San Francisco, where they are being snatched by chefs eager to convert them into top restaurants (case in point, the excellent Maito). Night entertainment is to be found in Bella Vista's neighborhood, on Calle Uruguay (intersecting Balboa Avenue where the Méridien Hotel is located).

 

The trendy Casco Viejo (which they are trying to re-brand as Casco Antiguo (old town versus antique town) is bristling with cultural activities and a picturesque night life. Compared to these locations, San Francisco might appear a bit dull. That's all the negative aspects I managed to summon. On the other hand, if you're looking to purchase or rent an apartment, San Francisco offers an excellent value. It's also very centrally located, literally close to everything... plenty of top restaurants, the best supermarkets, drugstores and the famous Multiplaza Mall (Hermès, Cartier, Vuitton, Ferragamo, Brioni, Tiffany anyone?)  as well as the best hospital in town (Punta Pacifica, affiliated to Johns Hopkins). Do you own a dog, do you like to walk, run or exercise in a safe environment? Then, San Francisco's Parque Omar, the local version of NYC's Central Park is just what you need. 

 

(Luxe apartment in Punta Pacifica San Francisco, Panama City, Panama, pictured.)

Firearm ownership in Belize is considered a privilege, not a right.  Applicants for a gun owner's license in Belize must establish a legitimate reason for owning a firearm; e.g. self defense, hunting, etc.

 

Establishing residency first is usually necessary to be able to show such a reason. An applicant for a firearm license in Belize must pass a background check, which considers criminal, mental, medical and previous firearm ownership records and...

Firearm ownership in Belize is considered a privilege, not a right.  Applicants for a gun owner's license in Belize must establish a legitimate reason for owning a firearm; e.g. self defense, hunting, etc.

 

Establishing residency first is usually necessary to be able to show such a reason. An applicant for a firearm license in Belize must pass a background check, which considers criminal, mental, medical and previous firearm ownership records and experience.  Law enforcement experience is often a plus.  Both exposed weapon and concealed carry permits are available.

 

The minimum age for gun ownership in Belize is 16 years old.  Gun owners must re-apply and re-qualify for their firearm license every 1-3 years.

 

Civilians are not allowed to possess any assault rifles, automatic and semiautomatic firearms, rifles of caliber greater than 7.62 mm or 0.30 inch, sawed-off rifles or shotguns, shotguns of barrel length 21 inches or less, rifled shotguns, handguns of caliber greater than 9mm or .38inch, armor-piercing ammunition, silencers, or extended handgun magazines.

 

Private possession of handguns (pistols and revolvers) is permitted under license, except handguns over 9mm or .38 caliber, or Magnum cartridges other than .22 inch or 5.6mm.

Licensed firearm owners in Belize are permitted to possess only the number of firearms indicated in the license and only the quantity of ammunition indicated in the license.

 

Typically, a gun owner may qualify for possession of both a hand gun and a rifle, but usually not multiple firearms in excess of that.

 

Penalties for illicit weapon or ammunition possession is stiff: 5 years in a Belizean jail.

 

There are a few shooting ranges in the country: The Placencia Gun Club, The Belize Gun Club, The Cayo Pistol Club.